Developing a system #14 (A Simple Trend Follower) + Update
Submitted by Edward Revy on February 22, 2009 - 11:04.
Hi Guys,
My name is Clint, I'm 21 years old and from South Africa. I am a relatively new forex trader (3 months) and recently made the switch to forex, having traded single stock futures for 2 years.
This system is a simple trend follower.
a. Open a daily chart of one of the major currency pairs (e.g. EUR/USD or GPB/JPY).
b. At the close of the first day of observation, open a position in the direction of the most recent candlestick (e.g. if the day closed up, enter long).
Read entire post >>>
I'll make one soon.
hi all , i'm kinonen if you want download my indicators goto
http://www.forexfactory.com/showthread.php?t=134759
you will find a lot
happy that you appreciate them
kinonen
The strategy update is very good. In fact it makes one simple to follow and profitable strategy.
Here is the basic screenshot.
Regards,
Edward
For the lot size management, perhaps you could try using percentage, like 3% of balance in account, and then divide by the total pips of stop loss to get the lot size.
Eg, 3% 0f $1000 is $30, stop loss is 30 pips from entry price. And thus $30/30 pips = 1 lot.
Will it be a better way to manage?
hello edwards,
I would like to ask you how to use the kino indicator?if yellow colors means sideways...How about Blue,red,crimson,green and dark green?
Azim
Hi Azim,
I've never used it, so unfortunately not able to help. I'm sorry.
Regards,
Edward
Maybe the secret is in the Daily chart Time Frame.
I'm just trade in daily chart with only 1 ema (ema 10),
just 1 minute per day to look the open of the new daily candle.
If the open price cross the ema line, i switch position.
This system is work for me so far, not big, but enough for me.
Hi Edward... I Like your informative Website.
Best regards,
Solehudin - Indonesia
Post new comment